BANKRUPTCY.

Taranaki Daily News, 4 August 1917, Page 3

BANKRUPTCY.

MEETING OF CREDITORS. A meeting of creditors in the bankrupt estate of Charles Goldsmith, tailor, of Waitara, was liel.l yesterday, the Deputv Official Assijmce (Mr. J. S. S. Medley) presiding. The Bankrupt and dig solicitor, Mr. T. P. Anderson, were in attendance. The debtor's statement showed liabilities, all unsecured, to be £283 8s Sd, assets being valued at £203 2s 3d, leaving a deficiency of £BO 0s sd. The aaBets consisted of: Stock-in-trade, £llO 19s Od; book debts (£100) estimated to produce £O2 2s fld. The Deputy Assignee said lie bad seen the stock and there" did not stem to be a great deal of it. The filed statement of the debtor set forth that he started business with £lO cash and £3O borrowed to secure his first lot of stock. Things went on well and his trade war, making every month. until the war broke out, and then there was a slump for two or three months, but business picked up again at Christmas. In July, 1915, be sold his property, getting £ISO clear, and ho paid what accounts were owing, except £lO. About a couple of months later there was a. law case over the salo commission, and that cost him £4O. In January, 191«, he took over another-ftusiness at a cost of £IOO, paying £OO down, and for the remaining £IOO fiiving four bills for £•'s each with interest, the last ot which he paid off in (February, 1017 He was then well ahead. The chief causes of his failure were book debts (wel. over £100), also the increased cost of materials. When be found bo was insolvent be filed, but did not intend that one of his creditors should lose a penny of what he owed them. He could not give any definite promise. Ho bad done Ms best in the interests of the creditors, ' * did not intend to slacken until he f\ T»aid 20s in the £ and obtained an , ' -We discharge. fto "° ra , -btor was examined on oath and ~ , 'is a married man with two said lie w, h hold GX p e nses had children. 1. monthj in addi tion been about £'t , a » Tmt Ui er wcekj to which there v Hfi w casll for and other ' ld . hmx for everything He had kM a|)out £4OO, getting £IBO t ' and othcr £SO for commission and J° ac . expenses. He had had no * count, but had been dealing Post Office Savings 'Bank. He ,\ ])e work on wages, save as much > could, and hand it over to tne &y > assignee till all bis debts had been tIl It rg was decided to sell trade bv tender, the book .debts to be realised by the assignee, and the debtoi to be allowed his ordinary tools ot trade.